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Why Interest Rates Matter for Canadians

Interest rates are the single most powerful lever in Canada's economy.  When the Bank of Canada adjusts its policy rate, the effects reach every household—from the cost of carrying a mortgage to the return on a savings account. With rates currently at 2.25% and significant uncertainty ahead, understanding how rates work has never been more important for your finances. What Is the Bank of Canada's Policy Rate? The Bank of Canada sets the overnight policy rate—the interest rate at which major banks lend money to each other. This rate serves as a benchmark that influences borrowing and lending costs across the entire economy. When the Bank raises or lowers this rate, commercial banks adjust their prime rates accordingly, which directly affects the rates you pay on mortgages, lines of credit, and other loans. The Bank's primary goal is to keep inflation near its 2% target. When inflation runs too hot, the Bank raises rates to cool spending. When the economy slows, it cuts rates...
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In a landmark ruling, the General Court of the European Union has annulled the trademark protections for the iconic shape of the Rubik’s Cube, dealing a blow to its Canadian owner, Spin Master Toys UK. The decision came after a decade-long legal challenge initiated by Greek company Verdes Innovations SA, which produces similar puzzle cubes under the V-CUBE brand.

The court found that the cube’s essential characteristics—its shape and grid-like design—were necessary to achieve a technical result, namely its rotational functionality. As such, these features could not be protected under EU trademark law. The ruling upholds the position of the European Union Intellectual Property Office (EUIPO), which had previously sided with Verdes Innovations.

Spin Master, which acquired the Rubik’s Cube brand in 2021, may still appeal to the Court of Justice of the European Union, the bloc’s highest court. However, the decision opens the door for increased competition in the puzzle toy market, potentially allowing rivals to produce similar cube-shaped puzzles without infringing on trademark rights.

Invented in 1974 by Hungarian professor Ernő Rubik, the Rubik’s Cube has sold hundreds of millions of units worldwide and remains a cultural icon. This ruling could reshape its legacy—and the future of twisty puzzles across Europe.

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